The Manufacturers Life Insurance Company Makes New $1.35 Million Investment in Waystar Holding Corp. $WAY

The Manufacturers Life Insurance Company bought a new stake in Waystar Holding Corp. (NASDAQ:WAY) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 65,678 shares of the company’s stock, valued at approximately $1,348,000.

A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Waystar during the 2nd quarter worth $357,950,000. Advent International L.P. purchased a new position in shares of Waystar in the fourth quarter worth about $362,212,000. Alliancebernstein L.P. raised its position in shares of Waystar by 3,883.4% in the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company’s stock valued at $133,601,000 after purchasing an additional 3,186,869 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Waystar in the second quarter valued at approximately $43,314,000. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Waystar by 4,717.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,814,648 shares of the company’s stock valued at $68,811,000 after buying an additional 1,776,979 shares in the last quarter.

Waystar Price Performance

WAY stock opened at $25.07 on Friday. The firm has a 50 day simple moving average of $23.57 and a two-hundred day simple moving average of $22.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market cap of $4.81 billion, a PE ratio of 35.81, a P/E/G ratio of 1.02 and a beta of 0.16. Waystar Holding Corp. has a one year low of $17.26 and a one year high of $41.47.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The company had revenue of $319.67 million during the quarter, compared to the consensus estimate of $316.21 million. During the same period in the previous year, the firm posted $0.36 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, analysts predict that Waystar Holding Corp. will post 1.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO Matthew Hawkins sold 82,500 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $25.97, for a total transaction of $2,142,525.00. Following the transaction, the chief executive officer owned 1,804,794 shares of the company’s stock, valued at approximately $46,870,500.18. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 165,000 shares of company stock valued at $4,206,524. 3.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WAY has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of Waystar from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Truist Financial cut their price target on Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Barclays lifted their price target on Waystar from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen lowered Waystar from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Finally, Wells Fargo & Company dropped their price objective on Waystar from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.14.

Waystar Profile

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.